XRP, Ripple’s native token, is currently making waves in the cryptocurrency space as it has outperformed major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and many others.
Since Donald Trump was elected President of the United States, XRP has risen more than 270%, marking the highest gain among the top 10 cryptocurrencies.
XRP Beat Binance Coin (BNB), eyes on SOL
During this rally, XRP surpassed top cryptocurrencies such as Binance Coin (BNB) and Dogecoin (DOGE). However, it is currently ranked fifth on CoinMarketCap, close to Solana (SOL), which is ranked fourth.
XRP Whales adds $290 million in tokens
Amid this ongoing rally, whales and traders have shown strong interest, belief and confidence in the token. Recently, Whale alerta whale transaction tracker, posted on X (formerly Twitter) that XRP whales moved 154.46 million
The post noted that these significant withdrawals took place on several cryptocurrency exchanges, including Binance, Bybit, and Bithumb. Within the cryptocurrency community, this activity is seen as a potential sign of upside momentum.
Current price momentum
Experts and crypto enthusiasts speculate that this could be the reason behind XRP’s remarkable 18% upward momentum. During this rally, XRP reached an intraday high of $1.9403. However, at the time of writing, the altcoin is trading around $1.88, having gained over 11.15% in the past 24 hours.
Meanwhile, XRP trading volume rose 25% over the same period, indicating greater participation from traders and investors driven by bullish sentiment.
XRP Technical Analysis and Upcoming Levels
According to expert technical analysis, XRP is approaching its all-time high (ATH). Based on price action, if the altcoin surpasses its ATH level, it could post significant gains in the coming days.
However, technical indicators such as the Relative Strength Index (RSI) point to a potential price correction ahead. The daily chart of XRP shows that the RSI is currently in the overbought zone.